Pet Insurance Calculator
Pet insurance trades a monthly premium for reimbursement of vet bills. Whether it is worth it depends on the premium, the deductible and how much care your pet actually needs in a year.
Net annual cost with insurance
$1,280.00
- Annual premium
- $480.00
- Reimbursed
- $1,000.00
- Saving versus no insurance
- $520.00
Values update as you type. This calculator covers the single scenario its formula assumes — see Common Mistakes for what it leaves out.
The formula this calculator uses
Reimbursed = (vet cost - deductible) x reimbursement percent; Net cost = premium + your share + routine costs
- premium
- Monthly cost of the policy
- deductible
- Amount you pay before reimbursement
- percent
- Share of the bill the policy reimburses
- vetcost
- Annual covered vet spending
How to check the result by hand
- 1
Note the premium and deductible
Use the actual quoted premium and the deductible that applies per condition or per year. Both feed directly into the reimbursement.
- 2
Estimate covered vet spending
Use a typical year or a scenario you want to insure against, such as an emergency. Routine care is usually excluded, so keep it separate.
- 3
Apply the reimbursement rate
Subtract the deductible from the covered bill, then multiply by the reimbursement percentage. That is what the insurer pays.
- 4
Add up your net cost
Add the annual premium to your share of the bills and to routine costs. This is what the year actually costs with insurance.
- 5
Compare with paying yourself
Compare the net cost with the full bill you would pay without insurance. If the difference is small and you could afford a large bill, self-funding may suit you.
For worked examples, common mistakes and the limits of this formula, read the full How To Calculate Pet Insurance page.